By ESTHER MSETEKA
AB Bank says plans are under way to introduce the Agricultural lending and e-business as the banks’ new products next year.
Chief operations officer Karin Everding says the bank, in its effort to expand, has come up with the two products in order to supplement Government effort in bridging the gap between the banking sector and the peasant farmers.
“Our highest lending rate is 10 percent and this puts us in a special position as a best micro business bank with no maintenance charges on all accounts,” Ms Everding said.
She said the agricultural lending product will be a great opportunity for peasant farmers because it will help them improve on their farming.
The bank says with its expansion programme of opening new branches across the country, it has deliberately put in place a policy of employing graduates from universities and colleges to help reduce the number of jobless youths in the country.
“The young people are very loyal to the bank as they witness their career grow in the banking sector,” she said.
She said the bank in collaboration with Celpay offers mobile payment services.However, this will be implemented after some technicalities are put in place next year.
“Having an electronic wallet, you can upload and download cash on the cash counter at AB Bank Zambia when you are in a location where the bank does not exist, just go to a Celpay agent, where you can deposit or withdrawal cash from your electronic wallet,” Ms Everding said.
She said currently the bank has a workforce of about 150 and hopes to double the number next year as the bank expands.
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